Welcome to our dedicated page for Kura Sushi USA news (Ticker: KRUS), a resource for investors and traders seeking the latest updates and insights on Kura Sushi USA stock.
Kura Sushi USA, Inc. (symbol: KRUS) operates technology-enabled Japanese restaurants in the United States, offering a unique dining experience through a revolving sushi service model. Headquartered in Irvine, California, the company was founded in 2008 and became a subsidiary of Kura Sushi, Inc. It operates 28 restaurants across six states, providing a variety of Japanese dishes such as Dashi Olive Salmon, Tomago, Sweet Shrimp, Tuna, and Garlic Tuna Steak.
Incorporating innovative technology, Kura Sushi USA features revolving and express conveyor belts, on-demand ordering screens, plate slots, and the Bikkura-Pon rewards machine to enhance the dining experience. The company's core business revolves around delivering fresh and high-quality sushi, with revenue primarily derived from the United States.
Formerly known as Kula Sushi USA, Inc., the company rebranded to Kura Sushi USA, Inc. in October 2017. In its recent fiscal third-quarter financial results for 2023, Kura Sushi announced a remarkable year-over-year revenue growth of approximately 30%, attributed to aggressive unit growth and strong comparable sales trends. The company has also shown significant improvement in G&A leveraging, achieving an increase of 130 basis points over the previous year.
President and CEO Hajime Uba expressed pride in the company's progress, highlighting its expansion and strides toward greater profitability. Kura Sushi USA continues to mature as it broadens its footprint across the country.
For the latest updates and investor relations, please contact Jeff Priester or Steven Boediarto at investor@kurausa.com.
Latest News:
- IRVINE, Calif., July 06, 2023 - Kura Sushi USA, Inc. announced financial results for the fiscal third quarter ended May 31, 2023, showing a 30% year-over-year revenue growth.
Kura Sushi USA recently closed an underwritten public offering of 1,265,000 shares of its Class A common stock, priced at $54.00 per share, generating approximately $64.9 million in net proceeds after underwriter discounts. The offering included full exercise of an over-allotment option for an additional 165,000 shares. The funds raised will be utilized for general corporate purposes, including capital expenditures and working capital. The offering was managed by Citigroup, William Blair, and Barclays Capital, with additional participation from Stephens, Craig-Hallum, and Roth Capital Partners. Kura Sushi operates 45 locations across 14 states and D.C., providing a unique dining experience centered on authentic Japanese cuisine and revolving sushi service.
Kura Sushi USA, Inc. (NASDAQ: KRUS) announced the pricing of its public offering of 1,100,000 shares of Class A common stock at $54.00 per share, generating expected proceeds of approximately $56.4 million, net of discounts. The underwriters hold a 30-day option to purchase an additional 165,000 shares, potentially raising total proceeds to about $64.9 million. The offering is set to close on April 13, 2023, pending customary conditions. Proceeds will be used for general corporate purposes, including capital expenditures and working capital. Citigroup, William Blair, and Barclays Capital are leading the offering management.
Kura Sushi USA, Inc. (NASDAQ: KRUS) has announced a public offering of 1,100,000 shares of its Class A common stock, with a potential additional 165,000 shares available to underwriters within 30 days. Proceeds from the offering will be used for general corporate purposes, including capital expenditures and working capital. The offering is led by Citigroup, William Blair & Company, and Barclays Capital. The company has a shelf registration statement effective with the SEC. This offering is subject to market conditions, and completion is not guaranteed. Kura Sushi operates 45 locations across the U.S. and aims to enhance the dining experience with its technology-enabled revolving sushi service.
Kura Sushi USA, Inc. (NASDAQ: KRUS) reported strong financial results for the fiscal second quarter ending February 28, 2023. Total sales reached $43.9 million, up from $31.3 million year-over-year, with comparable restaurant sales increasing 17.4%. Despite an operating loss of $1.0 million, an improvement from a loss of $1.9 million the previous year, net loss also narrowed to $1.0 million or $(0.10) per diluted share. Restaurant-level operating profit rose to $8.9 million, representing 20.3% of sales. Three new restaurants opened, contributing to a robust pipeline with nine units under construction. The company reaffirmed its full-year guidance of $185 million to $188 million in sales.
Kura Sushi USA, Inc. (NASDAQ: KRUS) announced a conference call to discuss its fiscal second quarter 2023 financial results on April 4, 2023, at 5:00 p.m. ET. The press release will be issued after market close on the same day. CEO Hajime Uba, CFO Jeff Uttz, and SVP Benjamin Porten will host the call. Interested parties can access the call by dialing 201-689-8471 or listen via a webcast available on Kura Sushi's Investor Relations website. Established in 2008, Kura Sushi operates 45 locations, offering a unique dining experience centered on revolving sushi and authentic Japanese cuisine.
Kura Sushi USA, Inc. (NASDAQ: KRUS), a technology-enabled Japanese restaurant chain, will hold a fireside chat at the 35th Annual Roth Conference on March 14, 2023, at 10:30 a.m. PT in Laguna Niguel, CA. Investors can access the live discussion on the company’s corporate website under the investor relations section. Established in 2008 and operating 45 locations in 14 states plus Washington DC, Kura Sushi is known for its authentic Japanese cuisine and unique revolving sushi service. For more information, visit www.kurasushi.com.
Kura Sushi USA reported fiscal Q1 2023 results with total sales of $39.3 million, up from $29.8 million a year earlier. Comparable restaurant sales increased 6.9%. However, the company faced an operating loss of $2.2 million, compared to a loss of $1.3 million in Q1 2022. Net loss stood at $2.1 million, or $(0.21) per diluted share. Restaurant-level operating profit was 18.2% of sales. Kura Sushi opened two new locations and maintains its full-year guidance of $183 million to $188 million in sales.
Kura Sushi USA (NASDAQ: KRUS) announced its participation in the 25th Annual ICR Conference on January 9, 2023, at 3:30 p.m. ET. The company will also host a conference call to discuss its fiscal Q1 2023 financial results on January 5, 2023, at 5:00 p.m. ET, following a press release after market close. The call will be led by CEO Hajime Uba, CFO Jeff Uttz, and SVP Benjamin Porten. Investors can listen via telephone or through a webcast on the company's official website.
Kura Sushi USA, Inc. (NASDAQ: KRUS) reported strong financial results for the fiscal fourth quarter and year ended August 31, 2022. Total sales surged to $42.0 million, up from $27.9 million in Q4 2021, while comparable restaurant sales rose by 27.6%. The Company achieved an operating income of $1.9 million, contrasting with a loss of $0.8 million a year prior. Net income was $1.9 million, or $0.19 per diluted share. For the fiscal year 2022, total sales reached $141.1 million, and the Company plans to open 9-11 new restaurants in FY 2023, anticipating sales between $183 million and $188 million.
Kura Sushi USA (NASDAQ: KRUS) announced its participation in the Stephens Annual Investment Conference on November 15, 2022. The company will also host a conference call on November 10, 2022, at 5:00 p.m. ET to discuss its fiscal Q4 2022 financial results, with a press release issued after market close. The call will be led by President and CEO Hajime Uba and CFO Jeff Uttz. Interested parties can access the call via telephone or through the company’s website.
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